AML/CTF

Certain Australian incorporated Pallion group entities are subject to Australian law including but not limited to the Know Your Client (“KYC”) & Anti Money Laundering (“AML”) provisions of The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 Act (Cth) (Act).

Identification

Under Australian law as administered by AUSTRAC, those Pallion group entities are required to obtain, verify and record specific business and identification information about its clients before opening a business relationship and establishing an account. All Client information and data is treated in utmost confidence and is protected under Australian Data Protection laws. Our internal due diligence processes are constantly monitored and updated to ensure compliance with Australian law.

Independent Audits & Annual Reports

As a large proprietary Australian company, Pallion is subject to annual financial audit. In addition, the Pallion refining division is audited annually by independent third parties to ensure compliance with Australian KYC & AML regulatory requirements. Pursuant to the Act, certain Pallion group entities submit an AML/CTF Compliance Report with AUSTRAC annually.